ICE considers Avalanche for NYSE tokenised trading

• ICE is evaluating Avalanche (CRYPTO:AVAX) for the NYSE’s planned 24/7 tokenised securities platform.
• NYSE has spent about a year testing Avalanche technology as it develops the proposed trading system.
• The platform would support tokenised US stocks and ETFs, with blockchain-based settlement subject to regulatory approval.

Intercontinental Exchange has been evaluating Avalanche (CRYPTO:AVAX) for a planned 24/7 platform for tokenised securities.

The New York Stock Exchange has spent roughly a year testing Avalanche technology as part of the project.

“As we move towards the prospective launch of our regulated ATS, we are looking very carefully at whether Avalanche could be that solution,” said ICE Vice President of Strategic Initiatives Michael Blaugrund.

The proposed platform would combine NYSE’s Pillar matching engine with blockchain-based infrastructure for trading and settling tokenised US stocks and ETFs.

ICE has not selected Avalanche as the platform’s blockchain, and the project remains subject to regulatory approval.

The planned venue would support continuous trading, onchain settlement, fractional shares, dollar-based orders and stablecoin funding.

ICE’s evaluation has placed Avalanche among the blockchain networks being considered for a regulated securities platform, while the final infrastructure choice remains open.

At the time of reporting, Avalanche price was $8.32.